M2D2 Hosts $50K Competition for Medical Device Entrepreneurs

Winners to Receive Business, Legal, Technical Assistance

Winning entries in the competition will include minimally invasive surgical tools and procedures that hasten patient recovery.

01/17/2014

By Edwin L. Aguirre

The Massachusetts Medical Device Development Center (M2D2) — in partnership with Boston-based law firm Nutter McClennen & Fish LLP and global medical technology business Smith & Nephew — is hosting the third annual new venture competition to showcase the nation’s best innovative medical device ideas by startup companies. This year’s event will focus on the fields of orthopedic reconstruction, sports medicine and trauma.

M2D2 is a joint initiative of the Lowell and Worcester campuses of the UMass system that helps new medical device entrepreneurs develop products from proof-of-concept to commercialization. Since its inception in 2007, more than 100 clients have been supported by the program.

This year’s competition prizes, worth a total of $50,000, include $25,000 in services from M2D2 for product development (such as engineering and prototyping), business development (business plans and market development) and medical development (clinician consultation, animal trials, etc.); the use of M2D2 laboratory space; $15,000 in legal services from Nutter McClennen & Fish LLP and $10,000 in services from Smith & Nephew. Application fees are $25 by Jan. 31, $50 by Feb. 10.

All entries will be reviewed by M2D2. Fifteen finalists will then be invited to present their concepts in-person at a public event at M2D2’s offices at UMass Lowell on March 26.